EXHIBIT (12)

TARGET CORPORATION
Computations of Ratios of Earnings to Fixed Charges and
Ratios of Earnings to Fixed Charges and Preferred Stock Dividends

(Millions of Dollars)

		Fiscal Year Ended
		Feb 2, 2002			Feb 3, 2001			Jan. 29, 2000			Jan. 30, 1999			Jan. 31, 1998
Ratio of Earnings to Fixed Charges:
Earnings:
Consolidated net earnings before extraordinary charges		$	1,374		$	1,264		$	1,185		$	962		$	802
Income taxes			842			789			751			594			524
Total earnings before extraordinary charges			2,216			2,053			1,936			1,556			1,326
Fixed charges:
Interest expense			510			467			415			421			437
Interest portion of rental expense			68			77			69			63			59
Total fixed charges			578			544			484			484			496
Less:
Capitalized interest			(33	)		(31	)		(16	)		(16	)		(16	)
Fixed charges in earnings			545			513			468			468			480
Earnings available for fixed charges		$	2,761		$	2,566		$	2,404		$	2,024		$	1,806
Ratio of earnings before extraordinary charges to fixed charges			4.78			4.72			4.96			4.18			3.65
Ratio of Earnings to Fixed Charges and Preferred Stock Dividends:
Total fixed charges, as above		$	578		$	544		$	484		$	484		$	496
Dividends on preferred stock (pre-tax basis)			—			—			29			32			35
Total fixed charges and preferred stock dividends			578			544			513			516			531
Earnings available for fixed charges and preferred stock dividends		$	2,761		$	2,566		$	2,404		$	2,024		$	1,806
Ratio of earnings before extraordinary charges to fixed charges and preferred stock dividends			4.78			4.72			4.69			3.92			3.40

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